Web Acquisitions Seven Times Costlier in 1999

Acquirers spent seven times more money buying Web sites in 1999 than they spent in 1998, according to an upcoming Web M&A Report from Webmergers.com. Buyers last year bought nearly 450 small and large Web properties for a total $47 billion. By contrast, buyers spent just $6 billion in 1998 to acquire about 140 Web sites. Large deals in 1999 included the $1.1 billion acquisition of MapQuest.com by America Online Inc. and At Home Corp.'s $781 million purchase of Bluemountain.com.